The other white meat Bail out plan

03Oct08

Of all the idiots in the world, the US has the largest concentration in Washington DC. making feeble atempts at manning the helm of this country. This is not a bail out plan! It is untold pages of pure crap, uncluding the following among other “sweetners” as the idiots refer to it and we, the US taxpayer is paying for it, not the government. 

_Extending an expired provision that gives Puerto Rico and the Virgin Islands a rebate against excise taxes charged on imported rum. The rebate, at $13.50 per proof gallon, has been in effect since 1999. The cost is $192 million.  Now we know what is our leaders favorite beverage. I think they were on it when they wrote this bill

_Establishing a new tax credit ranging from $2,500 to $7,500 for purchasers of plug-in electric-drive vehicles. Cost: $758 million. Are there a lot of these on the road? I have never seen an electric car going down the highway with an extension cord coming out the rear end. The owner is already getting a break fron not buying gas why does he ned more?

_Extending tax credits that expired at the end of 2007 for certain domestic corporations involved in American Samoa economic development. Cost: $33 million. Why do they need a break when they are working in a foriegn country where labor is cheaper? What about companies that are involved in US economic development? Sounds like we need it rith now!

_Extending a credit of up to $10,000 for the training of mine rescue team members. The credit expires at the end of this year and the one-year extension costs $4 million. OK listen up! You hire a guy and train him on the job. That is what other businesses do who do not  getting a tax break.

_Enacting President Bush’s proposal to erase the debt of the black lung disability trust fund at a cost of $1.3 billion. How many black lung recepients are there that costs $1.3 billion

_Extending for one year a seven-year depreciation timetable that NASCAR and other motorsport racing facilities have had for some years, the same tax break that amusement parks enjoy. Without the extension, the tracks would have to depreciate the cost of their improvements over 15 years, raising their taxes by $100 million. OK! Let them take the depreciation over 15 years, save the $100 million. i didn’t know amusement parks got tax breaks, did you? Why?

_Extending for five years a program that reduces import duties on some wool fabrics. The tariff relief benefits U.S. worsted wool fabric producers that use imported fibers and yarns. Cost: $148 million. I don’t get this! If you reduce import duties which means the producers get imports cheaper which means cheaper wool clothing for the US consumer, how does that cost $148 million? OH, I get it! the government is not getting their cut.

_Increasing the single-year deduction in production costs, from $15 million to $20 million, that film and TV productions may take if the costs are incurred in economically depressed areas. In an effort to keep film and TV productions in the U.S., it also allows more companies to use a domestic production deduction. Cost: $478 million. Here is a tip for the film and tv production industry. Don’t go to economically depressed areas.  Here is an industry that produces nothing of real substance and hires people who makes millions playing someone else, spew their ignorant rants against the US and our brave men and women in the militry and we are stupid enough to listen to them because they played one in a movie.

_Allowing commercial fishermen and others hurt by the 1989 Exxon Valdez oil spill in Alaska to average out damage awards over three years rather than taking a one-year hit from the IRS. Cost: $49 million. How much do we still owe these people? The waters should be clean by now. Go back to work.

_Extending two programs that fund rural schools and rural communities that have been relying on declining income from logging on federal land or have low property tax bases because they are located on or next to federal lands. This is a major issue in the West. Cost: $3.3 billion. I live in a western state and have never heard that this was a problem. If the feds would allow loggers to clean up the usable timber that has fallen or infected by the pine bettle, in our national parks, the income would improve and forrest fires would be easire to manage.

_Exempting wooden practice arrows used by children from an excise tax of 39 cents per arrow. Oregon’s two senators have pushed for the action, saying the tax was meant for more expensive archery arrows and is untenable for makers of toy arrows that may cost only about 30 cents apiece. The bill would affect about nine manufacturers nationwide, including one in Oregon. Cost: $2 million. Whos hair brained idea was this in the first place. Does it cost $2 million to exempt the tax meaning the government won’t get the tax money to waste on something else?

_Allowing employers to exempt from taxation what they spend on some fringe benefits for workers who commute to work by bicycle, for example reimbursing the cost of parking the bikes. Cost: $2 million. I am lost for words.

Filed under: Blogroll, Business, Grumblings, My Opinion, Personal Thoughts, Politics, people   |  1 Comment
Tags: bailout, congress, idiots, pork, subsides, sweetners